SEBI Approves IPOs of 13 Companies

India’s primary market is set to witness a fresh wave of listings as the Securities and Exchange Board of India (SEBI) has approved initial public offerings (IPOs) of 13 companies. These firms plan to raise funds through public issues and list their shares on the BSE and NSE in the coming months.

SEBI Clears IPOs of 13 Companies

Thirteen new companies are gearing up to make their debut in the Indian stock market. The Securities and Exchange Board of India (SEBI) has granted approval to 13 firms to raise funds via IPOs, according to a recent regulatory update.

The approved list includes Hella Infra Market, the parent company of construction-tech platform Infra.Market, and luxury fashion platform Purple Style Labs, among others. All companies have proposed to list their shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

SEBI stated that all 13 companies, which filed their draft IPO papers between June and October last year, received regulatory observations between January 19 and January 23. In regulatory terms, SEBI’s observations are equivalent to approval to launch a public issue.

Complete List of 13 Companies Approved by SEBI

The companies that have received SEBI’s clearance include:

• Jai Jagdamba

• Transline Technologies

• UKB Electronics

• CMR Green Technologies

• Medicap Healthcare

• Purple Style Labs

• Oswal Cables

• BVG India

• Pride Hotels

• Sai Parenterals

• Commtel Networks

• Hella Infra.Market

• Sify Infinit Spaces

Infra.Market IPO Details

According to market sources, Tiger Global-backed construction material supply firm Infra.Market used SEBI’s confidential pre-filing route in October last year to propose an IPO worth between ₹4,500 crore and ₹5,500 crore.

The proposed IPO will be a combination of a fresh issue of shares and an offer for sale (OFS) by existing shareholders.

Sify Infinit Spaces IPO

Sify Technologies’ subsidiary, Sify Infinit Spaces Limited, has proposed an IPO comprising:

• Fresh issue of equity shares worth ₹2,500 crore

• Offer for sale (OFS) of equity shares worth ₹1,200 crore

Purple Style Labs IPO

Purple Style Labs, the parent company of luxury fashion platform Pernia’s Pop-Up Shop, plans to raise ₹660 crore through its IPO. The issue will consist entirely of a fresh issue of equity shares.

Transline Technologies IPO

Video surveillance and biometric solutions provider Transline Technologies has proposed a public issue that is entirely an offer for sale (OFS) of 1.62 crore equity shares by promoters and one existing shareholder.

UKB Electronics IPO

Noida-based UKB Electronics, an electronic manufacturing services (EMS) provider, has proposed an IPO consisting of:

• Fresh issue of shares worth up to ₹400 crore

• Offer for sale (OFS) of shares worth up to ₹400 crore

CMR Green Technologies IPO

According to its draft red herring prospectus (DRHP), non-ferrous metal recycler CMR Green Technologies Limited has proposed an IPO entirely through an offer for sale (OFS) of 4.28 crore equity shares.

Oswal Cables IPO

Oswal Cables has proposed:

• Fresh issue to raise ₹300 crore

• Offer for sale (OFS) of up to 2.22 crore equity shares

The company stated that proceeds from the fresh issue will be used to set up a new project, repay debt, and meet general corporate requirements.

BVG India IPO

Facility management services provider BVG India has proposed an IPO comprising:

• Fresh issue of equity shares worth ₹300 crore

• Offer for sale (OFS) of up to 2.85 crore equity shares by existing shareholders

Commtel Networks IPO

Commtel Networks plans to launch a ₹900 crore IPO, which includes:

• Fresh issue worth ₹150 crore

• Offer for sale (OFS) worth ₹750 crore

The proceeds from the fresh issue will primarily be used for debt repayment.